International Rectifier acquires CHiL Semiconductor

Editor: Anke Schröter

International Rectifier has signed a definitive agreement to acquire privately held CHiL Semiconductor (CHiL) for USD 75 million in cash, subject to working capital adjustments.

"The addition of CHiL’s technology and expertise to our broad portfolio of industry leading products such as DirectFET, PowIRstage and SupIRBuck, offers IR’s customers a unique value proposition by providing a high performance, cost effective, complete end-to-end integrated solution,” stated Tim Phillips, Vice President and General Manager, Enterprise Power Business Unit of IR. “Digital power management is entering a rapid adoption phase and the addition of CHiL’s technology strengthens IR’s market position to capitalize on this growth opportunity.
“The acquisition is the next logical step after our successful strategic product relationship with CHiL during the past year and will augment IR’s talent base by adding an experienced digital power design and applications engineering team,” concluded Mr. Phillips.
The transaction is expected to close in the first calendar quarter of 2011. The acquisition, which initially adds approximately USD 3 million of additional operating expenses per quarter, is expected to be accretive to IR’s earnings per share in the company’s 2012 fiscal year.